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Deputy Premier, Treasurer and Minister for State Development and TradeThe Honourable Andrew Fraser

Queensland business investment charges to new high

Deputy Premier, Treasurer and Minister for State Development and Trade
The Honourable Andrew Fraser

Monday, October 31, 2011

Queensland business investment charges to new high

The latest DAE Investment Monitor released today shows Queensland has soared to an historic high in the value of projects committed or under construction totalling $100.3 billion for the September quarter 2011.

“This kind of phenomenal growth is projected to continue skyrocketing with business investment of 27¾% forecast this financial year,” Mr Fraser said.

“The value of known investment in projects has also remained at near record highs of $184 billion.

“The surge in the value of definite projects has been underpinned by private sector resource projects, including the final investment decision from Gladstone LNG proponent APLNG and the commencement of the Curtis LNG project by QCLNG.

“Queensland’s business community is speaking loud and clear about the state’s first-class investment opportunities.

“Today’s report follows on from the Deloitte Access Business Outlook earlier this month which predicts the Queensland economy will ‘go from a stroll to a sprint’.

“The Bligh Government is confident about the state’s future economic prospects and today we see yet another private sector report backing that up.”